1,935,893 10x Genomics $TXG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in 10x Genomics (NASDAQ:TXG) by 46.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,258,734 shares of the company’s stock after selling 1,935,893 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in 10x Genomics were worth $204,099,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of 10x Genomics during the 3rd quarter valued at about $4,491,000. Profund Advisors LLC bought a new stake in shares of 10x Genomics in the third quarter worth approximately $209,000. MGO One Seven LLC purchased a new position in shares of 10x Genomics during the third quarter valued at approximately $307,000. State of Wyoming raised its holdings in shares of 10x Genomics by 27.6% during the third quarter. State of Wyoming now owns 7,258 shares of the company’s stock valued at $656,000 after purchasing an additional 1,571 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of 10x Genomics by 17.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,934 shares of the company’s stock valued at $1,975,000 after purchasing an additional 3,333 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TXG shares. Royal Bank Of Canada began coverage on shares of 10x Genomics in a research note on Tuesday, September 1st. They set a “sector perform” rating and a $70.00 target price for the company. Stifel Nicolaus set a $70.00 target price on 10x Genomics in a report on Tuesday, October 13th. Argus began coverage on 10x Genomics in a research report on Monday, September 28th. They issued a “buy” rating and a $110.00 target price on the stock. Morgan Stanley boosted their price target on 10x Genomics from $40.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, October 12th. Finally, Barclays upped their price target on shares of 10x Genomics from $52.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, 10x Genomics presently has an average rating of “Hold” and an average price target of $68.00.

Insider Buying and Selling

In other 10x Genomics news, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total transaction of $464,650.37. Following the completion of the transaction, the director directly owned 23,792 shares of the company’s stock, valued at approximately $1,931,672.48. This trade represents a 19.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam Taich sold 46,388 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the transaction, the chief financial officer owned 316,344 shares of the company’s stock, valued at $20,426,332.08. This represents a 12.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 179,333 shares of company stock valued at $11,810,070 in the last 90 days. 8.84% of the stock is owned by insiders.

10x Genomics Stock Performance

Shares of NASDAQ:TXG opened at $70.11 on Monday. The firm’s 50 day simple moving average is $74.17 and its 200-day simple moving average is $40.56. 10x Genomics has a one year low of $12.44 and a one year high of $102.81. The firm has a market cap of $9.13 billion, a PE ratio of -118.83 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. The company had revenue of $151.04 million for the quarter, compared to analysts’ expectations of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%. 10x Genomics’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Equities research analysts predict that 10x Genomics will post -0.77 EPS for the current fiscal year.

About 10x Genomics

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at the single-cell and spatial levels. Its technologies are designed to help researchers study gene expression, cellular interactions, tissue organization and other biological processes in greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, the Visium platform for spatial transcriptomics, and the Xenium platform for high-resolution in situ analysis of tissue samples.